Netflix Inc. stock has fallen far enough and long enough to produce its first “death cross” pattern in nearly three years, and become the third member of the former FAANG technology darlings to suffer that bearish technical fate.

A death cross refers to when a price chart’s 50-day moving average, viewed by many as a short-term trend tracker, crosses below the 200-day moving average, which many recognize as a dividing line between longer-term uptrends and downtrends. Technicians view the bearish cross as marking the spot a short-term pullback graduates to a long-term downtrend.

Netflix shares
NFLX, +3.10%
tumbled 5.5% Monday to the lowest close since Feb. 14. The stock has now plunged 35.4% since closing at a record high of $418.97 on July 9. It has been in a bear market, defined by many as a decline of 20% or more from a bull-market high, since July 30.

With that selloff, the 50-day (50-DMA) moving average has declined to $335.617 from $337.173 on Friday, while the 200-day moving average (200-DMA) has ticked up to $336.249 from $336.167.

FactSet, MarketWatch

The last time the 50-DMA was below the 200-DMA was Oct. 7, 2016; the last death cross appeared on Feb. 23, 2016. The stock didn’t bottom after the last death cross appeared until four months later, on June 27, 2016.

Of the other original FAANG technology momentum stocks, Facebook Inc.
FB, +2.48%
had a death cross that appeared on Sept. 20 and Google-parent Alphabet Inc.
GOOGL, +1.73%
produced a death cross last Thursday, while Amazon.com Inc.
AMZN, +2.01%
was still weeks away from forming one. Apple Inc.’s stock
AAPL, +1.30%
an honorary FAANG member, was also weeks away.

Meanwhile, the Nasdaq Composite Index
COMP, +0.45%
which counts all the FAANG stocks as components, will likely produce its first death cross since January 2016 some time during the week after Thanksgiving. The index still has a way to go before entering a bear market, however, as it closed Monday about 13.3% below its Aug. 29 record close of 8,109.69.

The Nasdaq’s 50-DMA has declined to 7,600.957 on Monday from $7618.871 on Friday, while the 200-DMA has climbed to 7,515.501 from 7,515.196. Based on the average daily rates of change for the moving averages this month, a death cross could appear in seven more trading sessions, or on Nov. 29.

The S&P 500 index
SPX, +0.01%
and the Dow Jones Industrial Average
DJIA, +0.35%
are still weeks away from a death cross.

If that’s not bad enough, shares of Facebook, Amazon, Netflix and Google parent Alphabet all closed Monday in bear markets—Alphabet entered a bear market on Monday for the first time in seven years—and Apple dipped briefly into bear-market territory intraday before bouncing back to close 19.9% below its record high.

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